New HARP Revisions (Home Affordable Refinance Program) will work.

If your property (or someones you know) didn’t qualify for a low rate refinance before,
this is worth checking out right now.

HARP started in 2009 and had less than desired results because of falling home values.
This meant that many people who put down 20% when purchasing were now required
to obtain mortgage insurance or make an additional principal payment to keep their loan
at a 20% equity level.

Thousands of borrowers across the nation did not refinance, even though there was a
significant rate benefit. The additional monthly mortgage insurance payment wiped out
or reduced the savings enough to say no.

Not so anymore!

The big and welcome changes:

1- Unlimited Loan To Home Value ratio’s. Yes, unlimited.
Unless you refinance to an ARM, and then it’s 105%

2- If you didn’t have mortgage insurance when you purchased
because of a 20% down payment (and not because of a 2nd mortgage),
you will not be required to have MI now.

Chapelboro.com and WCHL, equal opportunity employers, are dedicated to providing broad outreach regarding job vacancies at the station. We seek the help of local organizations in referring qualified applicants to our station. Organizations that wish to receive our vacancy information should contact WCHL by calling (919) 933-4165.